Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following tables summarize the changes in Level 3 assets and the gains and losses included in earnings for the nine months ending September 30, 2014:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
(in thousands)				Royalty Rights - At Fair Value
Beginning Balance at December 31, 2013							$	—
	Transfer into Level 3						235,677
	Total net change in fair value for the period
		Change in fair value of royalty rights - at fair value		$	72,992
		Proceeds from royalty rights - at fair value		$	(81,717	)
			Total net change in fair value for the period				(8,725		)
	Purchases, issues, sales, and settlements
		Purchases					15,500
Ending Balance at September 30, 2014							$	242,452

Schedule of fair value of financial instruments measured on recurring basis

	September 30, 2014								December 31, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
(In thousands)
Financial assets:
Money market funds	$	173,340	$	—	$	—	$	173,340	$	85,970	$	—	$	—	$	85,970
Corporate securities	—		2,847		—		2,847		—		5,238		—		5,238
Foreign currency hedge contracts	—		252				252		—		—		—		—
Royalty rights - at fair value	—		—		242,452		242,452		—		—		235,677		235,677
Total	$	173,340	$	3,099	$	242,452	$	418,891	$	85,970	$	5,238	$	235,677	$	326,885
Financial liabilities:
Foreign currency hedge contracts	$	—	$	9	$	—	$	9	$	—	$	8,871	$	—	$	8,871

Schedule of fair value of assets and liabilities not subject to fair value recognition by level within the valuation hierarchy

The following tables present the fair value of assets and liabilities not subject to fair value recognition by level within the valuation hierarchy:

	September 30, 2014						December 31, 2013
	Carrying Value		Fair Value Level 2		Fair Value Level 3		Carrying Value		Fair Value Level 2		Fair Value Level 3
(In thousands)
Assets:
Wellstat Diagnostics note receivable	$	50,191	$	—	$	50,191	$	47,694	$	—	$	46,042
Hyperion	1,200		—		1,200		1,194		—		1,195
AxoGen note receivable and embedded derivative	30,192		—		29,303		26,544		—		25,785
Avinger note receivable	20,516		—		19,746		20,250		—		19,061
LENSAR note receivable	39,645		—		40,000		39,572		—		39,572
Durata note receivable	40,000		—		40,000		24,995		—		24,995
Direct Flow Medical note receivable	35,212		—		36,752		34,799		—		34,799
Paradigm Spine note receivable	49,544		—		50,791		—		—		—
kaléo note receivable	152,078		—		152,140		—		—		—
Total	$	418,578	$	—	$	420,123	$	195,048	$	—	$	191,449
Liabilities:
Series 2012 Notes	$	47,564	$	69,172	$	—	$	172,630	$	277,650	$	—
May 2015 Notes	152,105		197,354		—		148,253		212,304		—
February 2018 Notes	274,512		292,560		—		—		—		—
Term loan	18,720		18,750		—		74,397		75,000		—
Total	$	492,901	$	577,836	$	—	$	395,280	$	564,954	$	—